I don't think so - they "tips" on moving to other encryption methods they've left on their website are TERRIBLE, especially compared to usual TrueCrypt manuals, that many, many, many times stressed the importance of avoiding side-channels attacks, untrusted/unsigned sources of encryption software, etc.

The instructions left on the site are:
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a) for linux - search for anything with "crypt" in name, install it and use. ROTFL!

b) for windows - use build-in encryption software provided by company known and proven to contain hooks for all major agencies that might be interested in your data. LMAO!
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Anyone who have, even once, read TrueCrypt manual with understanding, notice that it's pure irony, on the very first sight. It is giving so ridiculous "tips for security", that it MUST be done on purpose - targeted on people that used TrueCrypt for serious things, as they notice irony/absurdity, immediately.
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I have thought about it a little more - especially the fact, that TrueCrypt developers always tried (and to most point, succeed) to stay completely anonymous, at the same time, giving really professional tips about plausible dependability, etc. I think that it gives us some hint on the country they might have been from, and by extension, to the reasons of TrueCrypt closure.

In my opinion, they were either from one of the countries that REALLY breaks human rights in brutal way (think iran, etc), or from the country that have legal mechanisms to issue warrants that also deny even *informing* anyone that you got this warrant issued, under severe penalty threat - aka, USA (or one of the countries that works very closely with USA and respect their warrants - think UK).

In the latter case - which I think makes more sense, in the light of recent developments - devs stressed their anonymity so much, to avoid getting such warrants, obliging them to provide backdoors. Instead of guarding themselves with shield of lawyers (which is expensive) and, sooner or later, being forced to do legal fight for their right to provied REAL truecrypt (with such fight being exhausting, emotionally and financially), they decided to just avoid it, by remaining unknown to any agencies.

Now, it obviously worked for many years, but TrueCrypt had become more and more PITA for various agencies (including public informations about their failures to break truecrypt-encrypted disks in some major cases). As a cherry on top, the biggest USA intelligence failure - Snowden thing - happened, and whole world get to know what tools he used to securely leave USA intelligence with their pants down.

I guess that they decided that "enough is enough", and did considerable effort to track TrueCrypt developers down, found that they live in USA (or one of strongly affiliated countries) and issued the strongest warrant they could. TrueCrypt devs, living anonymously for years and lacking said "shield of lawyers" could have just decided to close things down, warning users in the most obvious, but still non-direct way (+, eventually, by that latin phrase encoded into text written in red - if it's the case, I hope that discovering it won't get them into legal penalties for breaking warrant rules of "not informing anyone").

As said, after thinking about it a longer while, I think that the above might be the thing closest to actual events.

/Estel